I have already done a bit of research into this topic so I'll give my opinion on the matter. It will be pretty short considering I'm writing this on a phone.
In order to determine if video games can be called "art", we must first understand what defines art in the first place.
From Wikipedia on "Art":
"Fine art refers to a skill used to express the artist's creativity, or to engage the audience's aesthetic sensibilities, or to draw the audience towards consideration of the finer things."
It would be fair to say that a work of art is something that demonstrates the artist's creative prowess. It can also introduce the audience to some sort of aesthetic sensibility. If we look at an average blockbuster video game of today, such as Battlefield 4, it seems that there isn't as much charm or creative prowess going into these games. Yes, they have visual appeal, but if you've ever played them, they don't really fit the cut for what we would call a "work of art". These games were made to give the player an adrenaline rush during intense online action. But most blockbuster games today do have "story" modes, which are a bit closer to what I would call "art". They tell us a story, give us enthralling visuals and music, and have aesthetic appeal. Besides, this kind of story has probably been told before in many other blockbuster games, so it's pretty redundant to try to call it a new and innovative work of art.
If we really want to find a game that meets the requirements to be considered a true modern video game masterpiece, we've got to dig a bit deeper. I would consider many modern indie games to be works of art! They are made by a small group of innovative people (they are the artists). Many indie games were created in such a way that it'd be hard to say that they AREN'T artful. The game "FEZ" is a great example of this.

This game appeals to my senses in various ways. It's got an interesting story and inspiring artwork and sounds. It, among many other indie games, have definitely helped push the boundaries of what we consider to be a work of art. In my opinion, this game is downright beautiful, and I recommend it to everyone looking for an inspiring adventure.
I would write a little more here, but my thumbs are getting tired, as I'm writing this on a smartphone. I hope you got something out of my little ramble.